Economics is the study of how every business, person, and government allocates their limited resources. A resource must be useful to be classified as a resource. Chances are new economic students have covered the economic principle of scarcity in their first lesson. If a resource is not scarce, it means it is readily available at no charge. Can you identify the only resource that is not scarce? Listed below are several of the suggestions made by my students and the only resource that is not scar More

For the first time in 99 years, a solar eclipse was visible from coast to coast across the United States. Click to read our analysis of the Economic Impact of the Eclipse. More

Imagine you are a doctor. Your compensation is one-tenth of doctors in other countries which offer better facilities. Would you leave? Many Nigerian doctors are leaving Nigeria to more prosperous countries. Our contributor writes how this trend is affecting her and Nigeria's Health Care System. More

For me, water does not seem to be a scarce resource, but for most of the world it is. This blog post will show you just how valuable and scarce clean water is. Click to Learn more! More